The Micra CVT Automatic XL variant which was priced at Rs 6,53,252 will now be available at Rs 5,99,000, a reduction of Rs 54,252.

Similarly, the Micra Automatic CVT XV will now cost Rs 6,73,500 as against its earlier price of Rs 7,19,213 lakh, a drop of Rs 45,713 (all prices ex-showroom Delhi).

Commenting on the development, Nissan Motor India Managing Director Arun Malhotra said: "As Micra is produced right here in India, we are able to better serve the market in terms of faster, more efficient delivery and improved localization levels. This allows us to pass on these benefits to our customers in the form of a revised, even more competitive price for our popular premium hatchback."

The company claimed that the Micra CVT gives a mileage of 19.34 kmpl as per ARAI tests.Micra was the first locally produced Nissan model in India with production starting in 2010 at the Renault-Nissan Alliance plant in Chennai.

Apart from the Micra, the company sells models, including mid sized sedan Sunny and SUV Terrano, among others under the Nissan brand while it sells three models GO, GO Plus and redi-GO under the Datsun brand.